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Motion by Member LeToumeau, seconded by Member Strommen, to nominate Chris Riley as <br />Chair and Jim Steffen as Vice Chair to serve in 2006. <br /> <br />Motion carried. Voting Yes: Members LeTourneau, Strommen, Gromberg, and Kiefer. Voting <br />No: None. Absent: Member Elvig. Abstaining: Chairperson Riley and Member Steffen. <br /> <br />Case #2: 2006 Work Plan <br /> <br />Economic Development/TIF Specialist Sullivan reviewed that at the March 9, 2005 meeting the <br />2005 work plan was discussed. He provided a recap on the following areas of the 2005 work <br />plan: continue to be involved with and to initiate development and redevelopment projects; <br />marketing initiatives; communication with existing businesses. <br /> <br />Economic Development/TIF Specialist Sullivan provided a recap on the following areas of work <br />plan items that were not initiated or completed in 2005: communications with existing <br />businesses; development/redevelopment; marketing; presentations for EDA meetings. <br /> <br />The Board discussed the 2006 work plan. <br /> <br />Member Kiefer suggested the EDA partner with the HRA to draft a marketing plan, which would <br />accomplish two goals for half the cost. He noted residential development goes hand in hand with <br />employment in the City. Economic Development/TIF Specialist Sullivan indicated there is not a <br />current need to market industrial land, and the HRA has not indicated a need to market housing <br />at this time. Member Strommen explained at this time the HRA is focused on very specific <br />redevelopment ideas. <br /> <br />Chairperson Riley suggested the Revolving Loan Fund be used to assist businesses that are <br />substandard and need to be cleaned up. <br /> <br />Member Gromberg inquired about the balance in the Revolving Loan Fund. Economic <br />Development/TIF Specialist Sullivan replied there is currently a $100,000 balance in the fund. <br />When land is sold to ZeroZone for expansion the fund will receive $400,000. The Board <br />discussed the ownership status of Zero Zone. <br /> <br />Chairperson Riley inquired whether the EDA will be making a request for CDBG funding in <br />2006. Economic Development/TIF Specialist Sullivan replied the EDA made an application for <br />CDBG funding last year for the acquisition of additional land. This request was denied. The <br />City is more likely to receive funding by submitting one project, which will be submitted by the <br />HRA this year. If there is an eligible project, the EDA can plan on submitting a request next <br />year. <br /> <br />Chairperson Riley stressed that the City should draft a plan to determine the best project to <br />submit for CDBG funding, and be certain that an application is submitted every year. <br /> <br />Economic Development Authority/January 11, 2006 <br /> Page 2 of 6 <br /> 2 <br /> <br /> <br />